An award-winning regional broker has discussed the difficulties presented by lenders’ changing appetites and regulatory flux in the industry.
Speaking to The Adviser, regional broker Brenden Lowbridge of Investor Loans Network NSW has said that, while things are going well for his business, it’s been “tough” from the perspective of regulatory change and adjustments in lenders’ appetite.
“[We have] a moving target in terms of regulation, servicing calculators and policies. LVRs are up and then down the next week, and then up again,” he said. “I think we had one lender change their LVRs three or four times in a matter of I think it was probably only six months.”
“Given all these challenges, we seem to be doing probably more hours it feels, for the same result. So, it’s definitely been interesting times.”
However, while challenging, Mr Lowbridge pointed out that the changes have also been making his role dynamic and interesting.
“It’s definitely a good challenge, and it’s an opportunity because I think that the days where you could just keep walking back into your bank and keep getting money, I think that those days are gone.”
The Beresfield-based broker explained that being part of a larger network and connecting with a wider group of brokers has helped him to navigate some of the difficulties presented by the changeable regulatory environment.
Mr Lowbridge has featured in The Adviser’s Young Broker of the Year and recently won Best Regional Broker at the 2017 Better Business Awards in NSW.
Source: The Adviser
If you are looking for an award winning mortgage company in Australia, feel free to call Mortgage Choice today!
